Business and Economics
Elegance: a glimpse into the future of workspaces

From background player to industry-wide trendsetter, serviced workspaces in Sri Lanka are primed and ready to finally deliver on what their strongest advocates have long known to be true. Leading this shift is Elegance Workspaces, which opened their newest luxury workspace in Rajagiriya.

While most serviced workspaces offer a base set of features, Elegance goes a step further; bearing the trademark chic flourishes and rich interior it has fast become known for, Elegance has stacked its workspaces with a myriad of services and amenities to go with its exquisite design.

Wi-Fi, maintenance, security, access control, tea/coffee and even a gym, are all readily available to its members so that they can place all their focus on growing their businesses. Meanwhile an ample number of work desks, private suites and open lounge spaces, to go with a spacious shared spaces and a roof top terrace, help create a conducive environment to inspire one’s best work.

Best Value from Authentic Brands at Daraz Mall Fest

Daraz Mall, Daraz’s exclusive online mall featuring a range of leading brands will be hosting ‘Daraz Mall Fest’ from 15th to 21st September with exciting offers and discounts on some of the favourite brands. Daraz Mall is a platform that showcases over 400 official trusted brands and certified stores that sell 100% authentic products, with an exclusive 14-day return policy.

The Daraz Mall Fest will be the largest online brand space that brings together a variety of authentic brands, ranging from electronics, general merchandise, FMCG and Fashion, into a single platform for the benefit of shoppers. Over a 100 brands will be offering the lowest prices available at Daraz Mall Fest together with top 200 brands handing out exciting vouchers.

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Microfinance -Why Interest Rates are higher than Banking

The Sri Lankan economy benefits tremendously from its Microfinance sector which fulfills financial needs of the country’s low income segments in a secure and convenient manner.Amongst many evidence available such as various research findings, thousands of successful entrepreneurs emerging and growing through microfinance, the figure bellow exhibits how poverty level of the microfinance clients are reduced when microfinance clients move from one loans cycle to the next.

As the industry dedicated for helping low income people to move out of poverty towards prosperity, microfinance industry welcomes the government’s efforts to revise the present loan interest rates downward to the benefit of the borrowers, and support development of micro enterprises. However, there are number of practical difficulties for MFIs in achieving this objective and therefore, as the President of the representative body of Microfinance Practioners in Sri Lanka, it is my obligation to bring to the spotlight some of the challenges facing the industry at present especially in the post-pandemic context where many financial institutions have come under pressure to be ‘flexible’ with clients who are, understandably, affected by the economic downturn owing to complete lockdown of country & economy fortwo to three months.

MFIs provide loans to micro enterprises whosefinancial requirements are low by amount. The average loan size provided by MFIs is about Rs. 50,000. Despite loan amounts being relatively small, cost to service the same is often relatively higher when compared with commercial banks/finance companies which provide large loans.

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